(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) Kaveh Madani, United Nations University (THE CONVERSATION) The world is now using so much fresh water amid the consequences of climate change that it has entered an era of water bankruptcy, with many regions no longer able to bounce back from frequent water shortages. About 4 billion people – nearly half the global population – live with severe water scarcity for at least one month a year, without access to sufficient water to meet all of their needs.